Banking Sector Check - Growth Momentum Softens Across Services, Retail, Industry: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Banks’ sectoral credit deployment data for October 2023 (as of October 20, 2023) records non-food credit at Rs 154.3 trillion. Adjusted for the merger (of a non-bank with a bank), systemic non-food credit stands at Rs 148.4 trillion, up ~15.2% YoY/1.9% month on month.Headline credit growth has remained healthy at ~15% YoY for the last few months. However, credit growth (adjusted for the merger) for October 2023 has decelerated versus September 2023 across services, industry and retail. Growth in heavyweight Nonbank financial companies and unsecured retail, including credit card, has been moderating (although it remains at greater 22% YoY).With Reserve Bank of India increasing risk weights in November 2023, growth in these segment will likely see an adverse impact. We believe the revival of Industry, especially large industry (current growth at less then 3% YoY), becomes all the more critical for momentum to sustain..Click on the attachment to read the full report:.Eicher Motors Stock At All-Time High As Motorcycle Sales Jump In November .DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Banking Sector Check - Growth Momentum Softens Across Services, Retail, Industry: ICICI Securities

With Reserve Bank of India increasing risk weights in November 2023, growth in these segment will likely see an adverse impact.

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Banking Sector Check - Growth Momentum Softens Across Services, Retail, Industry: ICICI Securities

With Reserve Bank of India increasing risk weights in November 2023, growth in these segment will likely see an adverse impact.

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